TOKYO - Asian stocks slid and oil prices extended a punishing sell-off on Thursday as investors feared an historic drop in long-term U.S. bond yields could prove a herald of recession globally.
Yields on 10-year paper dropped to 1.55%, taking them under two-year paper. Such an inversion was last seen in 2007 and correctly foretold the great recession that followed a year later. The futures market was clearly expecting drastic action as it priced in a greater chance the Fed would have to cut rates by half a point at its September meeting.
MSCI’s broadest index of Asia-Pacific shares outside Japan dropped 0.8% and briefly touched a seven-month low.All three of the major U.S. stock indexes tumbled about 3% overnight, with the blue-chip Dow posting its biggest one-day point drop since October.
And most of the tools in box to fight recession have already been used to indulge the rich and powerful.
How do I buy humidity futures? Also mosquitoes
Spooks, sinks & screams... objectivity
TrumpRecession TrumpRecession TrumpSlump TrumpCrash More Tariffs
Money isn't everything.
Sverige Senaste nytt, Sverige Rubriker
Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.
Källa: trtworld - 🏆 101. / 63 Läs mer »